This is a summary of trading rules I made myself after several failures in future trading.
Trading rules that I must adhere to so as not to always lose money:
1. Trading should only be done 3-4 times a day. It doesn't matter how attractive or promising the profits are. If you have already made a profit in those 3-4 transactions, you must stop no matter what happens, because if you continue, you will surely incur losses until your capital is exhausted.
2. Immediately cash out the profits obtained no matter how small.
3. Delete the trading app after making profits every day to avoid temptation after gaining a large profit, because if not, you will surely be tempted again, unless you can control the temptation, then it is safe.
4. Avoid all information that makes us want to trade impulsively. No matter how attractive it is, if you do not want to lose everything.
5. Trading should only be done when fresh, with a clear mind, full concentration, not stressed, and done at certain times. For example, three transactions in the morning or three transactions in the afternoon or three to four transactions at night, choose the best moments every day, if you make a profit, stop, do not continue, otherwise, you will definitely lose. Never let trading continue while you sleep at night. Because the results will definitely be bad, potentially losing all the money invested.
6. For new coins, do only one trade in a 15-minute time frame, either long or short. If you have made a profit, don’t stubbornly trade that coin again.
7. Discipline in carrying out all this so that you can continue to advance and gain profits.
All these trading rules are somewhat difficult for me to execute because they are all related to emotions. When I see a good entry opportunity, I impulsively trade without clear analysis. Then boom, everything is lost in liquidation by the market. And eventually, I get depressed again.
From all those experiences, I have come to a conclusion that in trading, the most important thing is how we wisely control our emotions. So as not to be influenced by the ups and downs of the candles. Best regards for success.